Page 2 - Cgst Act

Actual freight and insurance should be declared on shipping bills: Expert

Any mis-declaration of freight paid or payable which results in loss of revenue by way of excess drawback payment, is liable to be proceeded against under the Customs Act

Gujarat HC sends notice to state, Centre over input tax credit on gifts

A petitioner sought declaration of the section 17 (5) (h) of the Central GST Act and associated circular as unconstitutional to the extent that it restricts input tax credit on gifts and free samples.

Gujarat HC serves notices on govt, GST council for breach of refund norms

Under the Rule 92 of the Central GST (CGST) Act, the claim of the refund has to be made in the RFD 04 form. Thereafter, the officer concerned can accept or reject the claim after his investigations

Sitharaman's first Budget gives breather for delay in payments towards GST

The current mechanism of filing returns is being replaced by simplified forms that would come into operation in phases

CGST Act disallows input tax credit for nine entries, but exceptions exist

According to the CBEC, the benefits expected from the e-way bill mechanism are physical interface, faster movement of goods and improved turnaround time of trucks